React native app can't be installed on Android minSDK=27 targetSDK=30

I am facing a weird issue in the react-native project. I can generate, sign and run the APK when I use minSDK=21 and targetSDK=30, but when I specify minSDK=27 and targetSDK=30 I can't run APK on a device. It says that app can't be installed. I am using Android 10, and minSDK 27 is Android 8.1 (Oreo).

RN: 0.64.1

buildscript {
    ext {
        buildToolsVersion = "31.0.0"
        minSdkVersion = 27
        compileSdkVersion = 30
        targetSdkVersion = 30
        ndkVersion = "20.1.5948944"
    }